If you’re interested in betting on sports, you’ve probably wondered what it is all about. There are many different types of bets and regulations, and you might even want to consider legalized sports betting. You can learn more by reading our guide to legalized sports betting. Here, you’ll discover:
Types of bets
If you’ve ever watched a sporting event and wanted to bet on the winner, you’ve probably come across point total bets. While it might seem like guesswork, you can actually calculate point totals if you’ve been playing for a while. To get the most accurate point totals, you can practice betting before you risk any money. One of the most popular types of bets in sports betting is the moneyline bet, which you place on the winner of the game. In baseball and hockey, moneyline bets are popular.
Regulations
The current climate in the U.S. is ripe for sports betting regulation. A federally-mandated uniform model for sports betting may be a long shot, but states will likely resist it with vehemence. States that have legalized sports betting are likely to face a difficult fight with the sports leagues. They will likely argue for compensation and an “integrity fee,” and require sportsbooks to monitor betting patterns and unusual betting patterns.
Impact on state’s economy
The potential revenue from legal sports betting is considerable. Studies have suggested that legalized gambling in the United States would contribute $22.4 billion to the US economy and generate $8.4 billion in local taxes, according to Oxford Economics, which conducted a study for the American Gaming Association. It analyzed available data, interviewed industry participants, and built customized economic impact models. Expert judgment was also used in analyzing the revenue potential of sports betting. In this study, the authors assumed legal sports betting in 40 states by 2016.
Impact on National Hockey League (NHL)
If you’re a bettors, you’ve likely heard about the impact of sports betting on the National Hockey League. While sports betting on NHL games isn’t illegal, it is an industry that can’t be completely excluded from the league’s business model. But it’s important to note that the NHL is not the only league impacted by sports betting. Even if the NHL isn’t going to completely ban the practice, there are still ways to reduce its negative impact.